Goodwill and Other Intangible Assets

3 Months Ended

Apr. 28, 2012

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

9.  Goodwill and Other Intangible Assets

Goodwill

Goodwill allocated to the Company’s reportable segments and changes in the net carrying amount of goodwill for the quarter ended April 28, 2012 are as follows (in thousands):

	Retail		Corporate Apparel		Total
Balance at January 28, 2012	$	59,900	$	27,882	$	87,782
Translation adjustment	557		891		1,448
Balance at April 28, 2012	$	60,457	$	28,773	$	89,230

Goodwill is evaluated for impairment annually as of our fiscal year end.  A more frequent evaluation is performed if events or circumstances indicate that impairment could have occurred.  Such events or circumstances could include, but are not limited to, new significant negative industry or economic trends, unanticipated changes in the competitive environment, decisions to significantly modify or dispose of operations and a significant sustained decline in the market price of our stock.  No additional impairment evaluation was considered necessary during the first quarter of fiscal 2012.

Intangible Assets

The gross carrying amount and accumulated amortization of our identifiable intangible assets are as follows (in thousands):

	April 28, 2012			April 30, 2011			January 28, 2012
Amortizable intangible assets:
Carrying amount:
Trademarks, tradenames, and other intangibles	$	12,533		$	12,835		$	12,648
Customer relationships	33,225			34,141			32,149
Total carrying amount	45,758			46,976			44,797
Accumulated amortization:
Trademarks, tradenames, and other intangibles	(8,259		)	(7,870		)	(8,339		)
Customer relationships	(4,838		)	(2,099		)	(4,005		)
Total accumulated amortization	(13,097		)	(9,969		)	(12,344		)
Total amortizable intangible assets, net	32,661			37,007			32,453
Infinite-lived intangible assets:
Trademarks	1,300			1,336			1,258
Total intangible assets, net	$	33,961		$	38,343		$	33,711

The pretax amortization expense associated with intangible assets subject to amortization totaled approximately $0.8 million and $0.9 million for the quarter ended April 28, 2012 and April 30, 2011, respectively, and approximately $3.4 million for the year ended January 28, 2012.  Pretax amortization associated with intangible assets subject to amortization at April 28, 2012 is estimated to be $2.4 million for the remainder of fiscal year 2012, $3.2 million for fiscal year 2013 and $3.1 million for each of the fiscal years 2014, 2015 and 2016.